I think most of this is overblown, but these two points particularly. Every agent is always trying to get the biggest deal in history, especially Machado's. Also, he played for the Dodgers. Why wouldn't attendance / fandom matter to him?
The Reds did genuinely improve their rotation by adding Wood. That said, Puig and Kemp are mostly expensive dead weight, so it kinda evens out.
They'll probably trade Senzel and Trammel for Kluber now.
The difference is that the Cubs bad contracts are generally more long term (J-Hey, Darvish) or else are for players they need to compete (Hamels and Lester). I'm not sure I see a way for them to free up payroll without getting significantly worse on paper.
Yeah I don't think the luxury tax is gonna stop them from signing Harper.
There's lots of ways they could go, but there's one way that is a lot more likely...
Well, he's a former GM, which should mean he has connections, but Jim Bowden is also a former GM, and he's always wrong, so take it with a grain of salt.